The cryptocurrency market kicked off July with a notable surge as Bitcoin, Ethereum, and Solana posted solid gains. Bitcoin rose nearly 9% over four days, Ethereum held key support levels, and Solana outperformed other major assets. Increased on-chain activity and strong support zones fueled the recovery, while traders keep a close watch on critical price levels for the next market move.
Bitcoin and Ethereum Continue to Lead Market Recovery
The latest rally remains concentrated among top-tier cryptocurrencies. According to CoinMarketCap, the combined market value of the eight largest crypto assets reached roughly $1.71 trillion, representing about 78.8% of the total crypto market cap of approximately $2.17 trillion. Bitcoin dominates with a 57.8% share, while Ethereum accounts for 9.8%. Together, they make up over two-thirds of the market, meaning their price movements heavily influence overall direction.
Bitcoin gained nearly 9% in early July, and Ethereum maintained support above key levels after recovering from June lows. CoinDesk noted that “the recent recovery in the crypto market has still been primarily driven by a small number of top-tier assets,” adding that increased concentration means Bitcoin and Ethereum continue to shape broader performance.
Network activity also improved. Data shows that 24-hour active addresses on several blockchains increased from mid-June, indicating stronger user participation during the recovery.
June Support Levels Remain Key Market Reference Points
Price action in June established several support zones. Bitcoin found buying interest near $60,000, Dogecoin around $0.078, BNB near $557, and XRP close to $1.05 before later testing lower levels. Ethereum held demand near $1,559, Solana stayed above $60, TRX near $0.31, and HYPE around $52.99. These levels remain important as traders assess market strength.
By the end of June, Bitcoin, Dogecoin, BNB, and XRP briefly dipped below their earlier support before recovering. CoinDesk reported that “selling pressure had not yet fully subsided” during that period. However, Solana, TRX, and HYPE stayed above their June lows throughout the pullback, distinguishing them from larger cryptocurrencies that temporarily broke support.
Solana Outperforms as Broader Rebound Expands
The recovery broadened in early July as more major cryptocurrencies moved higher alongside Bitcoin. If momentum continues, CoinDesk suggests Bitcoin could revisit the mid-June level near $67,050, while Dogecoin, BNB, and XRP could retest around $0.091, $630, and $1.30, respectively.
Solana recorded one of the strongest performances, moving above its mid-June high and trading beyond $75. Continued buying could push Solana toward $98 if market conditions remain supportive. Other assets under watch include TRX near resistance at $0.37, HYPE in the $76–$80 range, and Ethereum positioned for a possible retest of $2,395.
Alongside price gains, blockchain activity improved. Rising active addresses across several networks suggest increased user engagement during the recovery period.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies are risky assets; always do your own research before investing.